Department store group Debenhams has reported a 0.9 per cent dip in like-for-likes for the year to August 30.
Debenhams’ profit before tax and net debt position for the year are likely to be in line with market consensus when revealed in full next month, according to the retailer. Gross margin was flat in the period, as expected.
Debenhams said it entered its new financial year with a “very clean stock position”. It hopes August’s store openings at Dunfermline in Fife and in Blackpool will contribute to the company’s performance in the new financial year.
Debenhams chief executive Rob Templeman said: “Debenhams’ ongoing investment in product design, quality and value, plus the differentiation of our exclusive designer ranges, has resulted in market share gains both overall and for each major clothing category and enabled us to deliver what we believe to be a creditable sales performance given the retail climate.
“Trading in August showed a marked improvement over July, but the UK retail sector continues to be adversely affected by wider economic concerns. We will continue to focus on meeting the needs of our customers to enable us to make further market share gains in what continues to be a challenging macroeconomic environment.”